HMO stands for House In Multiple Occupation, this is described under Sections 254
And 257 of the Housing Act 2004. The HMO Can be a building if it is:-

  • A house split into bedsits
  • A house or flat share where each tenant has their own tenancy agreement
  • Students living in shared accommodation
  • DSS tenants sharing one property on separate tenancy agreements

Empire Commercial Finance can help you with the funding to fund such a project, not all Banks lend their money on such projects, however we have a number of different High Street Banks and Specialist Lenders we can introduce you to who will be happy to assist you with your new project.

Normal Documents a Lender would like to see to assess an application:-

  • Property Portfolio, to include Addresses of Properties, Current Value, Out Standing Debts.
  • 3 months Personal & 3 Months Rental Bank Statements.
  • Lenders Application Form.
  • Income & Expenditure Document.
  • Last 3 years accounts or tax returns/SA 302 document.

Typical Deal for a HMO Mortgage

  • 75% loan to Value (LTV)
  • Rates from 2.9% + Base Rate. (maybe cheaper for experienced Landlords)
  • No Early Repayment Charge.
  • Set Up Fees added to the Mortgage, subject to LTV
Speak to a Commercial Mortgage Specialist

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